Compared to a sampling of other developed nations, the U.S. income distribution is more unequal than many others. What accounts for this?
A) The lowest-income families in the United States earn much less than the lowest-income households in other nations.
B) Marginal income tax rates are much higher in the United States than in any other nation.
C) The highest-income families in the United States earn much more than the highest-income households in other nations.
D) Other nations manipulate their data to look better.
C
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Creative destruction:
A) leads to the benefit of all economic agents. B) is more likely in an economy with extractive institutions. C) leads to losses of all economic agents. D) is more likely in an economy with inclusive institutions.
Identify the correct statement
a. Demand is the total quantity of a product that people are willing, even if unable, to purchase at a given price. b. Demand for a product is the same as the quantity demanded of a product. c. Demand represents the different quantities of a good or service that provides consumers the same amount of utility. d. Demand is the quantity of a product that people are willing and able to purchase at different prices. e. Demand is the quantity of a product that producers are willing to produce at a particular price.
Millionaires do not face the problem of scarcity
a. True b. False Indicate whether the statement is true or false
States receive most of their tax revenues from
A. Property taxes. B. State income taxes. C. Sales taxes. D. User charges.